Risk analysis tools give insurer data on target market areas
Fortis has bought the Perils Insight suite of computer models from Business Insight to help predict the risk of claims in postcodes for which Fortis has no claims data. It has also licensed flood maps from JBA Consulting.
Fortis said the technology “will allow Fortis to enhance its existing view of high and low-risk areas and provide insight into postcodes where Fortis currently has little or no claims data, allowing Fortis to tune its underwriting in all areas with greater accuracy.”
